Professors at small- to mid-size colleges and universities regularly teach a variety of introductory and upper-division courses, in addition to working with advisees, meeting with prospective students and their families, attending faculty and committee meetings, serving in off-campus organizations, and, yes, attempting to remain engaged with one's field and the broader academic community.

My objections to peer review do not extend to upper-division or graduate courses, I should note; by that point, the students usually come equipped with the necessary skills, and are more often invested in the material.